Land Values 2012. USA

340
-1

Published on

Published in: News & Politics, Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
340
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
4
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Land Values 2012. USA

  1. 1. United States Department of Agriculture National Agricultural Statistics Service Land Values 2012 Summary August 2012 ISSN: 1949-1867
  2. 2. Contents Agricultural Land Values Highlights ...................................................................................................................................... 4 Farm Real Estate, Average Value per Acre – United States: 2003-2012 .............................................................................. 5 2012 Farm Real Estate Value by State, Dollars per Acre and Percent Change from 2011 .................................................... 5 Cropland, Average Value per Acre – United States: 2003-2012 ............................................................................................ 6 2012 Cropland Value by State, Dollars per Acre and Percent Change from 2011 ................................................................. 6 Pasture, Average Value per Acre – United States: 2003-2012 ............................................................................................... 7 2012 Pasture Value by State, Dollars per Acre and Percent Change from 2011 .................................................................... 7 Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 ................................................. 8 Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 ............................................................ 10 Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 ........................................................... 12 Pasture Average Value per Acre – Region, State, and United States: 2008-2012 ................................................................ 14 Value of Farmland and Buildings – Region, State, and United States: 2007-2011 .............................................................. 16 Economic Regions ............................................................................................................................................................... 18 Statistical Methodology ....................................................................................................................................................... 19 Information Contacts ............................................................................................................................................................ 21 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 3
  3. 3. Agricultural Land Values Highlights The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $2,650 per acre for 2012, up 10.9 percent from revised 2011 values. Regional changes in the average value of farm real estate ranged from a 26.7 percent increase in the Northern Plains region to a 4.1 percent decline in the Southeast region. The highest farm real estate values were in the Cornbelt region at $5,560 per acre. The Mountain region had the lowest farm real estate value at $974 per acre. The United States cropland value increased by $450 per acre (14.5 percent) to $3,550 per acre. In the Northern Plains and Corn Belt regions, the average cropland value increased 30.4 and 18.5 percent, respectively, from the previous year. However, in the Southeast region, cropland values decreased by 3.8 percent. The United States pasture value increased to $1,150 per acre, or 4.5 percent above 2011. The Southeast region had the largest percentage decrease in pasture value, 7.0 percent below 2011. The Northern Plains had the highest increase at 21.9 percent. 4 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  4. 4. Average Farm Real Estate Value - United States Dollars per acre 3,000 2,500 2,000 1,500 1,000 500 0 2003 2004 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 2005 2006 2007 2008 2009 2010 2011 2012 5
  5. 5. Average Cropland Value - United States Dollars per acre 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2003 6 2004 2005 2006 2007 2008 2009 2010 2011 2012 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  6. 6. Average Pasture Value - United States Dollars per acre 1,200 1,000 800 600 400 200 0 2003 2004 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 2005 2006 2007 2008 2009 2010 2011 2012 7
  7. 7. Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State 1 (dollars) (dollars) (dollars) (dollars) (percent) Northeast ........................................ Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ...................................... 4,980 12,700 10,300 2,200 8,000 12,300 4,900 15,300 2,350 5,120 16,800 2,900 4,830 12,000 8,900 2,100 7,500 12,000 4,800 13,800 2,400 5,100 15,300 2,800 4,690 11,500 8,100 2,000 7,200 11,300 4,750 13,100 2,400 5,000 13,600 2,750 4,690 11,500 8,100 2,000 7,200 11,000 4,650 12,700 2,450 5,000 13,000 2,750 4,780 11,100 8,100 1,970 7,200 10,500 4,550 12,200 2,650 5,200 12,000 2,750 1.9 -3.5 -1.5 -4.5 -2.2 -3.9 8.2 4.0 -7.7 - Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... 3,410 3,900 2,970 3,850 3,300 3,750 2,870 3,750 3,340 3,650 2,990 3,750 3,650 3,850 3,350 4,050 4,180 4,250 4,050 4,350 14.5 10.4 20.9 7.4 Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ 3,700 4,550 4,100 3,950 2,300 4,020 3,620 4,530 4,020 3,850 2,200 3,880 3,960 4,900 4,300 4,500 2,350 4,000 4,700 5,700 5,300 5,700 2,550 4,400 5,560 6,700 6,200 7,000 2,900 5,000 18.3 17.5 17.0 22.8 13.7 13.6 Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. 1,020 1,020 1,330 770 920 1,020 1,030 1,340 780 890 1,120 1,100 1,520 850 970 1,350 1,300 1,940 980 1,130 1,710 1,550 2,590 1,240 1,400 26.7 19.2 33.5 26.5 23.9 Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ............................... 3,650 2,850 4,450 3,450 5,000 2,500 3,530 2,850 4,250 3,300 4,800 2,400 3,560 2,880 4,200 3,550 4,600 2,400 3,650 2,900 4,470 3,650 4,500 2,700 3,690 3,050 4,470 3,700 4,450 2,700 1.1 5.2 1.4 -1.1 - See footnote(s) at end of table. 8 --continued Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  8. 8. Farm Real Estate, Average Value per Acre – Region, State, and United States: 2008-2012 (continued) 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State 1 (dollars) (dollars) (dollars) (dollars) (percent) Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. 3,940 2,300 5,640 4,300 2,950 3,690 2,150 5,150 4,100 2,900 3,520 2,100 4,800 3,900 2,900 3,450 2,050 4,700 3,800 2,900 3,310 2,000 4,600 3,500 2,900 -4.1 -2.4 -2.1 -7.9 - Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... 2,220 2,420 2,050 2,080 2,160 2,390 1,970 2,000 2,230 2,500 2,050 2,030 2,340 2,600 2,200 2,120 2,500 2,850 2,400 2,140 6.8 9.6 9.1 0.9 Southern Plains ............................... Oklahoma .................................... Texas ........................................... 1,470 1,150 1,550 1,470 1,170 1,550 1,580 1,240 1,670 1,660 1,330 1,750 1,730 1,480 1,800 4.2 11.3 2.9 Mountain .......................................... Arizona 2 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 2 ...................................... New Mexico 2 ............................... Utah 2 .......................................... Wyoming ..................................... 1,030 3,500 1,150 2,500 900 1,000 500 1,850 560 922 3,500 1,100 2,200 700 1,000 480 1,800 520 913 3,500 1,080 2,100 700 1,000 480 1,810 520 923 3,500 1,100 2,050 710 1,000 500 1,800 540 974 3,600 1,170 2,120 760 1,050 560 1,800 560 5.5 2.9 6.4 3.4 7.0 5.0 12.0 3.7 Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. 3,970 6,440 1,900 2,020 4,010 6,600 1,800 2,000 4,090 6,700 1,900 2,050 4,220 6,900 2,000 2,090 4,450 7,200 2,100 2,300 5.5 4.3 5.0 10.0 United States 3 ................................. 2,170 2,110 2,200 2,390 2,650 10.9 - Represents zero. See page 18 for definition of Regions. 2 Excludes American Indian Reservation land. 3 Excludes Alaska and Hawaii. 1 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 9
  9. 9. Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 1 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State (dollars) (dollars) (dollars) (dollars) (percent) Northeast ........................................ Delaware ..................................... Maryland ..................................... New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 2 ............................. 5,590 9,800 7,800 15,600 2,150 6,000 7,930 5,340 8,500 7,300 14,000 2,200 5,700 7,570 5,260 7,900 7,000 13,300 2,400 5,650 7,150 5,190 7,800 7,000 12,800 2,400 5,550 7,040 5,260 7,800 7,000 12,300 2,600 5,650 6,940 1.3 -3.9 8.3 1.8 -1.4 Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... 3,080 3,480 2,700 3,600 3,020 3,370 2,610 3,650 3,120 3,300 2,820 3,650 3,500 3,600 3,250 3,950 4,090 4,000 4,050 4,230 16.9 11.1 24.6 7.1 Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ 4,030 4,850 4,140 4,260 2,500 4,140 3,910 4,670 3,950 4,050 2,540 3,900 4,240 4,900 4,400 4,600 2,690 4,050 5,070 5,800 5,300 5,900 2,940 4,400 6,010 6,800 6,200 7,300 3,340 5,000 18.5 17.2 17.0 23.7 13.6 13.6 Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. 1,280 1,020 2,050 810 1,400 1,300 1,050 2,180 800 1,400 1,450 1,150 2,510 870 1,560 1,810 1,400 3,300 1,040 1,860 2,360 1,750 4,480 1,350 2,320 30.4 25.0 35.8 29.8 24.7 Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ............................... 3,730 3,100 3,850 3,400 5,350 3,800 3,600 3,150 3,770 3,270 5,000 3,500 3,590 3,180 3,720 3,400 4,700 3,400 3,590 3,250 3,720 3,400 4,500 3,500 3,750 3,450 4,000 3,430 4,700 3,500 4.5 6.2 7.5 0.9 4.4 - See footnote(s) at end of table. 10 --continued Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  10. 10. Cropland, Average Value per Acre – Region, State, and United States: 2008-2012 (continued) 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State 1 (dollars) (dollars) (dollars) (dollars) (percent) Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. 4,380 2,650 6,980 4,540 2,610 3,960 2,500 6,430 4,050 2,500 3,690 2,400 6,180 3,510 2,520 3,650 2,350 6,030 3,530 2,520 3,510 2,300 5,730 3,360 2,520 -3.8 -2.1 -5.0 -4.8 - Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... 1,800 1,770 1,830 1,810 1,810 1,860 1,740 1,810 1,920 1,990 1,800 1,900 2,050 2,120 1,970 2,020 2,220 2,370 2,120 2,070 8.3 11.8 7.6 2.5 Southern Plains ............................... Oklahoma .................................... Texas ........................................... 1,390 1,110 1,500 1,380 1,130 1,480 1,430 1,160 1,540 1,520 1,190 1,650 1,610 1,390 1,690 5.9 16.8 2.4 Mountain .......................................... Arizona 3 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 3 ...................................... New Mexico 3 ............................... Utah 3 .......................................... Wyoming ..................................... 1,670 11,500 1,310 2,800 811 2,740 1,630 2,700 1,180 1,610 10,000 1,300 2,610 787 2,700 1,810 2,810 1,177 1,530 8,000 1,290 2,470 779 (4) 1,820 2,720 1,197 1,550 8,000 1,340 2,460 807 (4) 1,840 2,690 1,267 1,630 8,500 1,450 2,560 853 (4) 1,830 2,690 1,290 5.2 6.3 8.2 4.1 5.7 (X) -0.5 1.8 Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. 5,570 9,880 2,380 1,830 5,210 9,480 2,340 1,790 5,080 9,130 2,290 1,890 5,240 9,450 2,290 1,960 5,540 9,810 2,510 2,230 5.7 3.8 9.6 13.8 United States 5 ................................. 2,760 2,670 2,770 3,100 3,550 14.5 - Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Includes: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. 3 Excludes American Indian Reservation land. 4 Not published due to insufficient reports. 5 Excludes Alaska and Hawaii. Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 11
  11. 11. Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 [Only States with significant irrigated acreage appear in this table] Region, State, and land type 1 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) (dollars) (dollars) (dollars) (dollars) (percent) Corn Belt Missouri all cropland .................................... Irrigated .................................................. Non-irrigated .......................................... 2,500 2,980 2,470 2,540 3,050 2,500 2,690 3,250 2,650 2,940 3,500 2,900 3,340 3,900 3,300 13.6 11.4 13.8 Northern Plains Kansas all cropland ...................................... Irrigated .................................................. Non-irrigated .......................................... 1,020 1,450 980 1,050 1,500 1,000 1,150 1,600 1,100 1,400 1,900 1,350 1,750 2,200 1,700 25.0 15.8 25.9 Nebraska all cropland .................................. Irrigated .................................................. Non-irrigated .......................................... 2,050 2,650 1,750 2,180 2,700 1,850 2,510 3,150 2,100 3,300 4,300 2,650 4,480 6,000 3,500 35.8 39.5 32.1 South Dakota all cropland ............................ Irrigated .................................................. Non-irrigated .......................................... 1,400 1,830 1,390 1,400 1,850 1,390 1,560 (2) 1,550 1,860 (2) 1,850 2,320 (2) 2,300 24.7 (X) 24.3 Southeast Florida all cropland ....................................... Irrigated .................................................. Non-irrigated .......................................... 6,980 7,790 6,300 6,430 7,000 5,900 6,180 6,700 5,700 6,030 6,500 5,600 5,730 6,400 5,100 -5.0 -1.5 -8.9 Georgia all cropland ..................................... Irrigated .................................................. Non-irrigated .......................................... 4,540 3,600 4,750 4,050 3,500 4,200 3,510 3,200 3,600 3,530 3,300 3,600 3,360 3,200 3,400 -4.8 -3.0 -5.6 Delta Arkansas all cropland ................................... Irrigated .................................................. Non-irrigated .......................................... 1,770 1,920 1,650 1,860 2,100 1,600 1,990 2,250 1,700 2,120 2,450 1,750 2,370 2,750 1,950 11.8 12.2 11.4 Louisiana all cropland .................................. Irrigated .................................................. Non-irrigated .......................................... 1,830 1,560 1,890 1,740 1,500 1,800 1,800 1,700 1,830 1,970 1,850 2,000 2,120 2,000 2,150 7.6 8.1 7.5 Mississippi all cropland ................................. Irrigated .................................................. Non-irrigated .......................................... 1,810 1,980 1,770 1,810 1,830 1,800 1,900 1,970 1,880 2,020 2,250 1,950 2,070 2,320 1,990 2.5 3.1 2.1 Southern Plains Oklahoma all cropland ................................. Irrigated .................................................. Non-irrigated .......................................... 1,110 1,400 1,100 1,130 (2) 1,120 1,160 (2) 1,150 1,190 (2) 1,180 1,390 (2) 1,370 16.8 (X) 16.1 Texas all cropland ........................................ Irrigated .................................................. Non-irrigated .......................................... 1,500 1,680 1,480 1,480 1,700 1,450 1,540 1,700 1,510 1,650 1,750 1,630 1,690 1,770 1,680 2.4 1.1 3.1 See footnote(s) at end of table. 12 --continued Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  12. 12. Irrigated and Non-Irrigated Cropland, Average Value per Acre – State: 2008-2012 (continued) [Only States with significant irrigated acreage appear in this table] Region, State, and land type 1 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) (dollars) (dollars) (dollars) (dollars) (percent) Mountain Arizona all cropland 3 ............................................. Irrigated ........................................................... 11,500 11,500 10,000 10,000 8,000 8,000 8,000 8,000 8,500 8,500 6.3 6.3 Colorado all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... 1,310 3,100 890 1,300 3,150 840 1,290 3,100 840 1,340 3,160 880 1,450 3,400 960 8.2 7.6 9.1 Idaho all cropland .................................................. Irrigated ........................................................... Non-irrigated .................................................... 2,800 4,500 1,360 2,610 4,000 1,300 2,470 3,800 1,220 2,460 3,800 1,200 2,560 4,000 1,200 4.1 5.3 - Montana all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... 811 3,300 580 787 2,800 600 779 2,700 600 807 2,700 630 853 2,700 680 5.7 7.9 Nevada all cropland 3 ............................................. Irrigated ........................................................... 2,740 2,740 2,700 2,700 (2) (2) (2) (2) (2) (2) (X) (X) New Mexico all cropland 3 ...................................... Irrigated ........................................................... Non-irrigated .................................................... 1,630 5,360 410 1,810 5,490 400 1,820 5,500 400 1,840 5,500 430 1,830 5,400 460 -0.5 -1.8 7.0 Utah all cropland 3 .................................................. Irrigated ........................................................... Non-irrigated .................................................... 2,700 5,260 1,150 2,810 5,200 1,080 2,720 5,050 1,040 2,690 5,000 1,030 2,690 5,000 1,030 - Wyoming all cropland ............................................. Irrigated ........................................................... Non-irrigated .................................................... 1,180 2,090 750 1,177 1,900 700 1,197 1,950 700 1,267 2,050 (2) 1,290 2,050 (2) 1.8 (X) Pacific California all cropland ............................................ Irrigated ........................................................... Non-irrigated .................................................... 9,880 12,300 3,570 9,480 11,600 3,400 9,130 11,100 3,500 9,450 11,500 3,600 9,810 12,000 3,550 3.8 4.3 -1.4 Oregon all cropland ............................................... Irrigated ........................................................... Non-irrigated .................................................... 2,380 3,740 1,900 2,340 3,680 1,850 2,290 3,650 1,800 2,290 3,650 1,800 2,510 4,200 1,900 9.6 15.1 5.6 Washington all cropland ......................................... Irrigated ........................................................... Non-irrigated .................................................... 1,830 4,200 1,210 1,790 4,200 1,150 1,890 4,700 1,150 1,960 5,200 1,100 2,230 6,300 1,150 13.8 21.2 4.5 - Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Not published due to insufficient reports. 3 Excludes American Indian Reservation land. Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 13
  13. 13. Pasture Average Value per Acre – Region, State, and United States: 2008-2012 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State 1 (dollars) (dollars) (dollars) (dollars) (percent) Northeast ........................................ New Jersey ................................. New York .................................... Pennsylvania ............................... Other States 2 ............................. 3,480 16,500 1,100 3,100 6,370 3,270 14,900 1,050 2,600 6,060 3,170 14,200 1,100 2,500 5,820 3,210 13,900 1,200 2,600 5,750 3,230 13,500 1,250 2,600 5,780 0.6 -2.9 4.2 0.5 Lake ................................................ Michigan ..................................... Minnesota ................................... Wisconsin ................................... 1,840 2,630 1,480 2,130 1,790 2,550 1,400 2,050 1,780 2,400 1,400 2,050 1,800 2,500 1,400 2,090 1,870 2,500 1,500 2,130 3.9 7.1 1.9 Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ 2,090 2,550 2,510 2,070 1,800 3,200 1,950 2,400 2,430 1,880 1,700 3,050 1,970 2,600 2,410 2,100 1,660 3,000 2,100 2,800 2,500 2,650 1,700 3,000 2,280 3,100 2,600 3,000 1,820 3,200 8.6 10.7 4.0 13.2 7.1 6.7 Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. 516 750 480 350 470 496 750 450 350 430 519 790 475 370 440 556 810 530 410 470 678 950 660 490 590 21.9 17.3 24.5 19.5 25.5 Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ............................... 3,620 2,570 4,870 3,880 4,830 1,950 3,400 2,420 4,600 3,650 4,800 1,900 3,320 2,440 4,500 3,600 4,500 1,900 3,300 2,420 4,730 3,600 4,200 2,100 3,250 2,450 4,400 3,580 4,100 2,100 -1.5 1.2 -7.0 -0.6 -2.4 - See footnote(s) at end of table. 14 --continued Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  14. 14. Pasture, Average Value per Acre – Region, State, and United States: 2008-2012 (continued) 2008 2009 2010 2011 2012 Change 2011-2012 (dollars) Region and State 1 (dollars) (dollars) (dollars) (dollars) (percent) Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. 5,040 1,800 5,930 7,450 3,000 4,270 1,700 5,300 6,000 2,900 4,030 1,650 5,050 5,400 2,900 3,690 1,600 4,500 5,000 2,900 3,430 1,550 4,300 4,200 2,850 -7.0 -3.1 -4.4 -16.0 -1.7 Delta ................................................ Arkansas ..................................... Louisiana ..................................... Mississippi ................................... 2,160 2,200 2,060 2,200 2,130 2,200 2,100 2,050 2,140 2,300 2,100 1,930 2,170 2,300 2,200 1,930 2,190 2,300 2,300 1,930 0.9 4.5 - Southern Plains ............................... Oklahoma .................................... Texas ........................................... 1,340 1,000 1,400 1,300 1,010 1,360 1,340 1,020 1,410 1,420 1,040 1,500 1,490 1,150 1,560 4.9 10.6 4.0 Mountain .......................................... Arizona 3 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 3 ...................................... New Mexico 3 ............................... Utah 3 .......................................... Wyoming ..................................... 617 950 710 1,610 760 650 310 940 480 517 900 670 1,280 530 620 280 870 410 518 950 650 1,250 530 (4) 290 920 410 525 (4) 640 1,220 530 (4) 310 920 430 551 (4) 640 1,210 570 (4) 350 920 450 5.0 (X) -0.8 7.5 (X) 12.9 4.7 Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. 1,900 3,020 740 770 1,730 2,900 700 820 1,700 2,850 670 820 1,680 2,800 670 820 1,660 2,800 620 810 -1.2 -7.5 -1.2 United States 5 ................................. 1,090 1,070 1,080 1,100 1,150 4.5 - Represents zero. (X) Not applicable. 1 See page 18 for definition of Regions. 2 Includes: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, Rhode Island, and Vermont. 3 Excludes American Indian Reservation land. 4 Not published due to insufficient reports. 5 Excludes Alaska and Hawaii. Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 15
  15. 15. Value of Farmland and Buildings – Region, State, and United States: 2007-2011 [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] Total value of land and buildings Region and State 2007 2008 2009 2010 2011 Change 2010-2011 (percent) (million dollars) (million dollars) (million dollars) (million dollars) (million dollars) Northeast ........................................ Connecticut ................................. Delaware ..................................... Maine .......................................... Maryland ..................................... Massachusetts ............................ New Hampshire .......................... New Jersey ................................. New York .................................... Pennsylvania ............................... Rhode Island ............................... Vermont ...................................... 5,207 5,457 3,011 17,510 6,188 2,256 11,461 15,696 38,766 1,148 3,370 5,080 5,150 2,970 16,400 6,396 2,303 11,169 16,685 39,680 1,176 3,538 4,800 4,361 2,835 15,375 6,240 2,256 10,074 17,040 39,525 1,071 3,416 4,600 3,969 2,700 14,760 5,876 2,233 9,563 16,800 38,500 952 3,355 4,600 3,969 2,700 14,760 5,720 2,186 9,271 17,150 38,250 910 3,355 -2.7 -2.1 -3.1 2.1 -0.6 -4.4 - Lake States ..................................... Michigan ..................................... Minnesota ................................... Wisconsin ................................... 37,600 72,630 55,328 39,000 79,893 58,520 37,500 77,203 57,000 36,500 80,431 56,625 38,500 89,948 60,750 5.5 11.8 7.3 Corn Belt ......................................... Illinois .......................................... Indiana ........................................ Iowa ............................................ Missouri ...................................... Ohio ............................................ 107,736 53,872 103,796 62,930 51,800 121,485 60,680 121,660 66,930 55,878 120,951 59,496 118,580 64,020 53,544 130,830 63,640 138,600 68,150 54,800 151,620 77,910 174,990 73,695 59,840 15.9 22.4 26.3 8.1 9.2 Northern Plains ............................... Kansas ........................................ Nebraska .................................... North Dakota ............................... South Dakota .............................. 45,374 51,984 25,740 33,649 47,124 60,648 30,492 40,204 47,586 61,104 30,888 38,893 50,710 69,312 33,660 42,389 59,800 88,270 38,808 49,325 17.9 27.4 15.3 16.4 Appalachian .................................... Kentucky ..................................... North Carolina ............................. Tennessee .................................. Virginia ........................................ West Virginia ............................... 38,360 37,238 35,750 39,690 8,510 39,900 38,270 37,605 40,000 9,250 39,900 36,550 35,970 38,400 8,880 40,320 36,120 38,518 36,800 8,760 40,600 37,995 39,420 35,775 9,855 0.7 5.2 2.3 -2.8 12.5 See footnote(s) at end of table. 16 --continued Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  16. 16. Value of Farmland and Buildings – Region, State, and United States: 2007-2011 (continued) [Total value of land and buildings is derived by multiplying average value per acre of farm real estate by the land in farms] Total value of land and buildings Region and State 2007 2008 2009 2010 2011 Change 2010-2011 (percent) (million dollars) (million dollars) (million dollars) (million dollars) (million dollars) Southeast ........................................ Alabama ...................................... Florida ......................................... Georgia ........................................ South Carolina ............................. 19,800 51,150 44,805 13,818 20,585 52,170 44,720 14,455 19,350 47,638 42,230 14,210 18,900 44,400 40,170 14,210 18,348 43,475 39,140 14,210 -2.9 -2.1 -2.6 - Delta States ..................................... Arkansas ..................................... Louisiana ..................................... Mississippi ................................... 31,136 15,795 21,670 33,154 16,503 22,880 32,504 15,859 22,100 34,000 16,400 22,635 35,100 17,490 23,638 3.2 6.6 4.4 Southern Plains ............................... Oklahoma .................................... Texas ........................................... 37,908 179,952 40,365 202,120 41,067 202,120 43,276 217,434 46,151 227,500 6.6 4.6 Mountain .......................................... Arizona 1 ...................................... Colorado ...................................... Idaho ........................................... Montana ...................................... Nevada 1 ...................................... New Mexico 1 ............................... Utah 1 .......................................... Wyoming ..................................... 16,926 35,482 28,520 50,547 4,777 18,505 12,479 14,798 18,156 35,995 28,500 54,720 4,871 19,829 13,291 16,856 18,156 34,430 25,080 42,560 4,871 19,169 12,953 15,704 18,156 33,804 23,940 42,420 4,871 19,265 13,021 15,704 18,156 34,430 23,370 42,955 4,821 20,029 12,953 16,308 1.9 -2.4 1.3 -1.0 4.0 -0.5 3.8 Pacific .............................................. California ..................................... Oregon ........................................ Washington .................................. 151,384 28,208 27,565 163,576 31,160 29,896 167,640 29,520 29,600 170,180 31,065 30,340 175,260 32,600 30,932 3.0 4.9 2.0 United States 2 ................................. 1,777,282 1,921,888 1,870,219 1,943,664 2,106,838 8.4 - Represents zero. Value of all land and buildings adjusted to include American Indian Reservation land value. 2 Excludes Alaska and Hawaii. 1 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 17
  17. 17. Economic Regions: Northeast:.................... Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont. Lake States:................. Michigan, Minnesota, Wisconsin. Corn Belt: .................... Illinois, Indiana, Iowa, Missouri, Ohio. Northern Plains: ......... Kansas, Nebraska, North Dakota, South Dakota. Appalachian: ............... Kentucky, North Carolina, Tennessee, Virginia, West Virginia. Southeast: .................... Alabama, Florida, Georgia, South Carolina. Delta States: ................ Arkansas, Louisiana, Mississippi. Southern Plains: ......... Oklahoma, Texas. Mountain:.................... Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming. Pacific: ......................... California, Oregon, Washington. 18 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  18. 18. Statistical Methodology June Area Survey Survey Procedures: The estimates of land values in this report are based primarily on the June Area Survey, conducted during the first two weeks of June. This annual survey uses a complete, probability-based land-area sampling frame. In 2012, the survey included a stratified sample of 11,085 land areas (segments), averaging approximately one square mile in size. Enumerators collecting data for the June Area Survey contact all agricultural producers operating land within the boundaries of the sampled land segments and record land value information for cropland and pasture within these segments. They also collect an estimated value of all land and buildings for the operator’s entire farming operation and the estimated percent change from the previous year. Survey reported data are reviewed for reasonableness and consistency by comparing with other data reported in the survey and with data reported within the segment the previous year. Estimating Procedures: Once the data are summarized, each Field Office (FO) conducts an analysis of the summarized indications and any other available information for their State. FOs then set estimates for land values and submit these recommendations along with their assessment of survey and other administrative information to the Agricultural Statistics Board (ASB). Survey data are also summarized for Regional and National levels and reviewed independently of each State’s review. National targets are established by the ASB. After FO recommendations are submitted, the ASB reviews the FO estimates and supporting comments and any conflicts with targeted National levels are resolved. The State estimates are weighted by the amount of cropland and pasture in each state, based on the most recent Census of Agriculture. For the purposes of this report, cropland pastured is defined as cropland. Published Estimates: State averages are not published for States with limited reports and/or high variability of the survey item’s reported data. Revision Policy: For non-census years land values are subject to an annual revision the following year. After the 5-year Census of Agriculture is completed, land value estimates for the non-census years are subject to a final historic revision. The basis for revision must be supported by additional data that directly affect the level of the estimate. Reliability: The June Area Survey from which land value and cash rent estimates are made is subject to sampling and non-sampling errors that are common to all surveys. Both types of errors affect the "accuracy" of the estimates. Sampling error occurs because a complete census is not taken. The sampling error measures the variation in estimates from the average of all possible samples. An estimate of 100 with a sampling error of 1.0 would mean that chances are 19 out of 20 (95 percent confidence interval) that the estimates from all possible samples averaged together would be between 98 and 102 (the survey indication plus or minus two times the sampling error). The sampling errors from the 2012 area frame survey are listed below: Farm Real Estate Value (%) All Cropland Value (%) Irrigated Cropland (%) Non-irrigated Cropland (%) Pasture Value (%) Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service United States 1.5 0.7 2.6 1.0 2.5 Regions (range low to high) 1.0 to 6.9 0.6 to 5.4 1.0 to 5.5 1.3 to 8.2 2.5 to 10.1 19
  19. 19. Sampling errors cannot be applied directly to the values published in this report to determine confidence intervals since the official estimates represent a composite of information from more than a single source. Non-sampling errors cannot be measured directly and can occur in complete censuses as well as sample surveys. They are caused by the inability to obtain correct information from each person sampled, differences in interpreting questions or definitions, and mistakes in coding or processing data. To minimize non-sampling errors, vigorous quality controls are used in the data collection process and all data are carefully reviewed for consistency and reasonableness. Terms and Definitions Farm: Any establishment from which $1,000 or more of agricultural products were sold or would normally be sold during the year. Government payments are included in sales. Farm real estate value: The value at which all land and buildings used for agriculture production including dwellings, could be sold under current market conditions, if allowed to remain on the market for a reasonable amount of time. Cropland value: The value of land used to grow field crops, vegetables or land harvested for hay. Land that switches back and forth between cropland and pasture should be valued as cropland. Hay land, idle cropland and cropland enrolled in government conservation programs should be valued as cropland. Irrigated cropland value: The value of land that normally receives or has the potential to receive water by artificial means to supplement natural rainfall. Irrigated cropland may consist of both land that will or will not be irrigated during the current year, but still has the facilities and equipment to do so. Irrigation facilities and equipment such as wells, pumps, canals, ditches, reservoirs, lakes, tanks, ponds, rivers, streams or creeks are usually present or on nearby acres. Irrigated cropland is normally worth more than land without irrigation potential or facilities. Non-irrigated cropland value: The value of land that only receives water by natural rainfall. Pasture, grazing and grassland value: The value of land that is normally grazed by livestock. Pasture does not need to have livestock grazing on it at the time of interview or during the current year in order to be valued as pasture or grazing land. 20 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service
  20. 20. Information Contacts Listed below are the commodity statisticians in the Economics Section of the Environmental, Economics, and Demographics Branch of the National Agricultural Statistics Service to contact for additional information. E-mail inquiries may be sent to nass@nass.usda.gov. Troy Joshua, Chief, Environmental, Economics, and Demographics Branch ....................... (202) 720-6146 Tony Dorn, Head, Economics Section ................................................................................... (202) 690-3223 Daryl Brinkman – Prices Received, Prices Received Indexes .................................. (202) 720-8844 Kuan Chen – Prices, Prices Research ....................................................................... (202) 720-5446 Bryan Combs – Production Expenditures ................................................................. (202) 720-9168 Vincent Davis – Prices Paid, Prices Paid Indexes .................................................... (202) 690-3229 Mark Gorsak – Prices, Prices Research ................................................................... (202) 720-3225 Michael Mathison – Production Expenditures .......................................................... (202) 720-3243 Nick Pallotta – Cash Receipts, Grazing Fees, Land Values ..................................... (202) 720-2250 Scott Shimmin – Cash Rents, Farm Numbers, Land in Farms ................................. (202) 690-3231 Land Values 2012 Summary (August 2012) USDA, National Agricultural Statistics Service 21
  21. 21. Released August 3, 2012, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). Access to NASS Reports For your convenience, you may access NASS reports and products the following ways:  All reports are available electronically, at no cost, on the NASS web site: http://www.nass.usda.gov  Both national and state specific reports are available via a free e-mail subscription. To set-up this free subscription, visit http://www.nass.usda.gov and in the “Follow NASS” box under “Receive reports by Email,” click on “National” or “State” to select the reports you would like to receive.  Printed reports may be purchased from the National Technical Information Service (NTIS) by calling toll-free (800) 999-6779, or (703) 605-6220 if calling from outside the United States or Canada. Accepted methods of payment are Visa, MasterCard, check, or money order. For more information on NASS surveys and reports, call the NASS Agricultural Statistics Hotline at (800) 727-9540, 7:30 a.m. to 4:00 p.m. ET, or e-mail: nass@nass.usda.gov. The United States Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, political beliefs, genetic information, reprisal, or because all or a part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination, write to USDA, Assistant Secretary for Civil Rights, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.W., Stop 9410, Washington, DC 20250-9410, or call toll-free at (866) 632-9992 (English) or (800) 877-8339 (TDD) or (866) 377-8642 (English Federal-relay) or (800) 845-6136 (Spanish Federal-relay). USDA is an equal opportunity provider and employer.

×